Posted by Nogger - a legend in his own mind at 23:33 | Categorized as CBOT Close

Soybeans

January soybean futures closed at USD9.83 ½, up 14 cents, January soymeal futures ended at USD300.50 up 5.10 points, and January soy oil futures at 38.63, up 37 points. It was a very volatile session, as the trade continues to digest yesterday's USDA numbers. Exactly how the trade can come to any sort of bullish scenario is beyond me. Surely record output from the US, Brazil, Argentina and probably Paraguay & Uruguay must be bearish? Estimates for tomorrow's US weekly export sales range from 750,000 to 850,000 MT.

Corn

March corn futures closed at USD3.84, down 8 ½ cents, and May corn futures at USD3.95, down 8 cents. The USDA say that they will re-survey farmers February through March to get a more accurate production output for the 2009/10 corn crop. Futures were well off their lows after yesterday's very bearish production numbers. Crude oil was lower which also weighed on corn, as did carryover weakness from Tuesday's bearish USDA production numbers. Estimates for tomorrows export sales range from between 350,000 and 650,000 MT.

Wheat

March CBOT wheat futures finished at USD5.37, up 1 ¼ cents, March KCBT wheat futures at USD5.36 ½, up 2 ½ cents, and March MGEX wheat futures at USD5.59 ¾, up 2 cents, The market continues to adjust between sharply lower planted area for next season, and hugely higher ending stocks and reduced export sales for 2009/10. Weekly wheat export sales for tomorrow are estimated between 225,000 and 275,000 MT.

About Me

Worked in agriculture for over 30 years as a shipper, merchant, trader & broker, but still hasn't got the faintest idea what he's talking about.
Likes beer apparently, so why not do the decent thing an hit the donate button you tight bastard?
He can also provide content for your website like market reports and commodity prices. And if you haven't got a website he can design one for you. In short, the man's a bloody genius.

Disclaimer

All comments on this website are the sole opinion of the author, and are not capable of nor intended to constitute professional advice. Neither can Nogger give any guarantee for the accuracy of any of the information or data contained within this site.

The guy is clearly deranged and you should almost certainly ignore everything that he says.